Arabian Business speaks with ADHD expert Dr George Sachs about how employers can create an ADHD-friendly work environment and the ways employees with ADHD can cope in offices not designed for the neurodivergent
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Masdar
UAE’s first space economic zone in Masdar City will boost spacetech start-ups
The new zone aims to offer an attractive business ecosystem, stimulate innovation, and encourage growth of spacetech start-ups and entrepreneurs
ADNOC
Biggest UAE renewable energy firm looks to deals for growth
Masdar is interested in acquisitions of power firms in places including the US and Europe
ADIB
ADIB reshuffles top leadership days after new CEO takes charge
Samih Awadhalla has been named acting head of retail banking and Amer Al Ameri has been tapped to lead private banking
air travel
Airbus fights back in Qatar A350 dispute, revokes A321 order
The planemaker will contend that Qatar Airways “sought to engineer or has acquiesced” in the groundings because it’s in the airline’s economic interest to idle planes “given the impact of the coronavirus pandemic” on demand
Green Energy
Abu Dhabi plans solar, water plants in drive for net-zero target
UAE became the first major Middle Eastern oil producer to declare a net zero target for its domestic emissions
Energy
Mumbai’s Larsen & Toubro wins hydrocarbon contracts in Middle East
L&T said that its modification, revamp and upgrade (MRU) business had won a contract from “a key hydrocarbon sector customer in the Middle East”
MENA start-ups
MENA VC investment sees 215% year-on-year increase
Saudi Arabia, UAE, and Bahrain accounted for over 88 percent of funding activity last month and e-commerce stood as the top-funded sector, according to Wamda
carsome
Carsome raises $300m from Temasek-backed funds, QIA
65 Equity Partners and SeaTown Holdings Pte. – both backed by Temasek – and Qatar Investment Authority are among investors that participated in the fundraising by Carsome
Citigroup
Banker who helped revamp Iraqi debt leaves Deutsche Bank for IFC
Hussain Qaragholi, who helped restructure Iraq’s sovereign debt from the Saddam Hussein era while working at Citigroup Inc., has joined the International Finance Corp.
Al Qudra Holding
Abu Dhabi’s Al Qudra to allow foreigners to own 30% of holding company’s capital
Al Qudra’s capital stands at AED5.51 billion, and the Abu Dhabi-based holding firm is actively expanding and diversifying its operations
AHS PROPERTIES
The uber-luxury real estate market isn’t for everyone
Abbas Sajwani, who launched uber-luxury real estate company AHS Properties, writes that while he loves the ultra-luxury sector, he understands why it makes some investors nervous
ESG
PepsiCo launches accelerator for MENA start-ups
Looking to drive the ESG narrative forward, PepsiCo’s Greenhouse Accelerator: MENA Sustainability Edition will support start-ups and small businesses across the region to launch and scale concepts for reducing, recycling, or reinventing food and beverage packaging
Mental health
Will the changing workweek in the UAE be good for all?
The UAE, Dubai in particular, is a regional hub from where many firms across the region are served. What happens when your clients are still on a Sunday-Thursday week?
Averda
Dubai waste firm Averda said in Better World SPAC merger talks
Dubai-based Averda, led by chief executive officer Malek Sukkar, has more than 60,000 clients in sectors including oil and gas, automotive and hospitality
Dubai
Dubai’s multi-billion dirham budget leans into Covid-19 rebound
AED181 billion has been set aside for the next three years to ensure quality of life improves for Emiratis and Dubai remains an attractive place for foreign talent
mental health wellness
Why businesses should invest in the mental health of their workers
Medical experts and health insurance executives say the return on investment for companies is clear, with less burnout, less absenteeism and less presenteeism, meaning more productivity
Covid-19 restrictions
Arrivals from UK in Dubai need 48-hour negative PCR test
Previously, arrivals in Dubai from the UK had to present a negative test taken within 72 hours
Dubai budget
Dubai ruler approves 3-year budget, with focus on infrastructure, transportation in 2022
Budget includes expenditure of AED59.95bn for 2022, and the new budget will boost Dubai’s efforts to stimulate the macro economy
Abu Dhabi green list
UK, Lebanon, Qatar, Russia come off Abu Dhabi’s Covid-19 green list
Algeria, Ireland and Morocco have been added to the list that allows for quarantine-free travel into the emirate. Changes will take effect January 3
DEWA
DEWA announces new working hours at Customer Happiness Centres
The UAE is the first nation in the world to announce a shorter national working week for federal employees compared to the global five-day week
Georgia
Abu Dhabi’s Masdar will develop Georgia’s largest solar power project
The PV project is part of a larger framework agreement signed with the state-owned Georgian Energy Development Fund last year to develop renewable energy projects in Georgia
Covid-19 vaccine
UAE approves new Sinopharm CNBG vaccine for emergency use
Hayat Biotech, a joint venture between Abu Dhabi-based G42 and Chinese drug maker Sinopharm CNBG, will produce the new vaccine
Abu Dhabi Global Market
ADGM adopts new UAE workweek, aligns with global economies
With more than 3,700 registered entities, the new system will support ADGM in generating new growth opportunities
crypto regulation
Binance gets its first gulf crypto regulatory nod in Bahrain
Bahrain, the Gulf’s smallest economy, has been one of the Middle East’s early adopters in the digital assets space
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Market outlook
Global markets are weighing three pressing concerns
Maurice Gravier, chief investment officer, Wealth Management for Emirates NBD, analyses what impact coronavirus has had on the financial markets, and what could be in store ahead
Covid-19 restrictions
Oman requires Covid-19 double jab for adult visitors
Travellers must also present a negative PCR test issued 72 hours prior to their arrival
Abu Dhabi Covid-19
Abu Dhabi updates event rules as omicron spreads
Venues hosting social events such as weddings, funerals and family gatherings must cap occupancy at 60 percent
Artificial intelligence
Five data analytics predictions and trends for 2022
The accelerated wave of remote working and digitisation has become essential for more businesses than ever before
crude oil output
Saudi Arabia’s exports surge in October on higher oil prices
Saudi Arabia’s economy has rebounded this year as oil prices soared and the impact of the coronavirus pandemic eased
family businesses
UAE intends to remove monopolies of some family businesses
A law is expected to be approved by the Emirati leadership, the Financial Times reported
Education
Canada-based edtech partners with Saudi’s Tetco to drive digital education initiatives
Smart Technologies is set on expansion across the GCC, merging technology with ‘best teaching practices’
Dubai Land Department
Dubai launches one-stop-shop timeshare portal
Dubai has worked to continuously develop its tourism sector as a means of economic diversification
MBRU
Dubai university adopts 4.5-day week
Mohammed Bin Rashid University of Medicine and Health Sciences has adopted a shorter work week following the UAE’s announcement that federal offices would move to a 4.5-day work week after the new year
Covid-19 travel
UAE suspends inbound flights from four African countries
Arrivals from Kenya, Tanzania, Ethiopia and Nigeria have been suspended, and new Covid-19 travel restrictions have been imposed on arrivals from Uganda and Ghana
Abu Dhabi green list
Abu Dhabi removes African, Latin American countries from Covid-19 green list
Morocco, Tunisia, Colombia and Belize are among the countries to be removed from the list that allows arrivals quarantine free travel into the emirate
covid-19
Executives have ‘positive expectations’ for 2022, despite pandemic, inflation concerns: Mckinsey
Developing markets remain concerned about Covid-19 and inflation, and also geopolitical instability
Cyber Security
Holiday shopping-themed mobile attacks are on the rise
Researchers have identified a massive global increase in holiday-themed mobile texts (SMS) phishing (smishing), which have almost doubled compared to the same period last year
Biopharmaceuticals
Abu Dhabi’s Mubadala and G42 ink deal for biopharmaceutical campus
New manufacturing facility will aim to strengthen regional supply chains, which have been thrown into disarray by the Covid-19 pandemic
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air travel
Qatar Airways sues Airbus over ongoing A350 paint dispute
Airbus has acknowledged surface degradation issues have affected other customers, though it maintains they are non-structural
ESG in the Middle East
Why sustainable engineering is good business
Sustainable engineering is not just good for the environment, it also improves capital and operational efficiency, which brings financial gains
Energy
Abu Dhabi’s Adnoc starts $3.6bn project to cut emissions
Abu Dhabi National Oil Co. and Abu Dhabi National Energy Co., known as Taqa, will build a subsea cable to help power the operations with cleaner energy than the natural gas they currently run on
Red Sea
ACWA Power closes $1.33bn in financing for Red Sea Development
The giant tourism project falls in line with Saudi Arabia’s Vision 2030 plan that seeks to diversify the country’s economy away from oil
Energy
QatarEnergy signed 2021’s biggest long-term LNG contract: Report
The Qatari provider will supply CNOOC with 3.5 million tonnes per annum of LNG from 2022 to 2036 from the country’s Ras Laffan III liquefaction terminal.
Abu Dhabi Investment Authority
Sempra Energy to sell 10% stake in infrastructure unit for $1.8bn
Sempra said it expected the sale to be completed by the summer of 2022, subject to closing conditions and approval from regulators
medical research
Abu Dhabi’s G42 and AstraZeneca to collaborate on research, diagnostics
G42 Healthcare and AstraZeneca will work closely together to explore real-world evidence and conduct clinical trials through IROS – the first-of-its-kind Contract Research Organisation (CRO) in the UAE
alternative investment
Should I invest in cryptocurrencies in 2022 and how can I be sure it’s not a scam?
Cryptocurrencies are here to stay, but the challenge is in the forecasting
binance
Binance signs agreement with DWTCA to create new international virtual asset ecosystem
Through its agreement with DWTCA, Binance will help advance Dubai’s commitment to establishing a new international virtual asset ecosystem
binance
UAE looks to attract Asian firms to bolster crypto credentials
Dubai, a financial centre with a vibrant nightlife and tourism scene, is vying with Singapore, Switzerland and other regions to become a global crypto hub
arts and culture
Saudi Arabia launches national music strategy to elevate its music sector
Saudi Arabia’s Music Commission announced today the launch of the kingdom’s first ever music strategy, which aims to help the sector contribute over 1 percent to the kingdom’s GDP
Dubai property prices
Dubai real estate sales hit AED610m in single day
Dubai’s property market, hard hit by Covid-19 that brought construction to a standstill while sales stalled amid a global economic downturn, has begun recovering
Dark kitchens
Restaurant Secrets Inc to launch three new Dubai dark kitchen concepts in early 2022
With the rise in demand for delivery-only models, Dubai will see the opening of Sumaya’s, Bang! Bang! Burrito, and Avo/Cato restaurants in the first quarter of the new year, reveals RSI
Aerospace
Rolls-Royce to get Qatari funding for small nuclear reactors
Rolls-Royce, which has seen its aerospace business gutted by the pandemic, is looking to branch out into new technologies including small nuclear reactors